Ichor Holdings, Ltd. $ICHR Stake Trimmed by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP cut its Ichor stake by 66.8% in the second quarter, selling 39,848 shares and retaining 19,808 shares worth about $2.2 million. Institutional investors still own 94.81% of the company, with California State Teachers Retirement System making a significant increase.
• Ichor reported quarterly EPS of $0.34, beating estimates of $0.31, while revenue rose 22.7% year over year to $294.8 million but fell short of forecasts. The company guided for third-quarter EPS of $0.40 to $0.50.
• Shares opened at $51.38, well below their 52-week high of $113.58. Analyst sentiment remains a “Moderate Buy”, with an average price target of $87, although insiders sold 23,902 shares worth approximately $1.4 million over the past 90 days.

Engineers Gate Manager LP cut its position in shares of Ichor Holdings, Ltd. (NASDAQ:ICHR - Free Report) by 66.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,808 shares of the technology company's stock after selling 39,848 shares during the quarter. Engineers Gate Manager LP owned 0.05% of Ichor worth $2,224,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. California State Teachers Retirement System increased its position in shares of Ichor by 10,835.2% in the second quarter. California State Teachers Retirement System now owns 4,462,232 shares of the technology company's stock worth $501,019,000 after acquiring an additional 4,421,426 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Ichor by 54.3% during the second quarter. Wellington Management Group LLP now owns 1,108,844 shares of the technology company's stock valued at $124,501,000 after acquiring an additional 390,017 shares during the period. Royce & Associates LP lifted its position in shares of Ichor by 48.5% in the 4th quarter. Royce & Associates LP now owns 1,449,082 shares of the technology company's stock valued at $26,707,000 after acquiring an additional 473,440 shares in the last quarter. Kennedy Capital Management LLC lifted its position in shares of Ichor by 20.9% in the 4th quarter. Kennedy Capital Management LLC now owns 892,524 shares of the technology company's stock valued at $16,449,000 after acquiring an additional 154,404 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Ichor by 2.1% in the 1st quarter. Principal Financial Group Inc. now owns 167,350 shares of the technology company's stock worth $7,800,000 after purchasing an additional 3,494 shares during the period. 94.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ichor

In other Ichor news, CEO Philip Barros, Jr. sold 1,314 shares of the firm's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $61.88, for a total transaction of $81,310.32. Following the transaction, the chief executive officer directly owned 161,562 shares in the company, valued at $9,997,456.56. This trade represents a 0.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Iain MacKenzie sold 9,933 shares of the business's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $65.76, for a total value of $653,194.08. Following the completion of the sale, the director directly owned 122,427 shares of the company's stock, valued at $8,050,799.52. This represents a 7.50% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 23,902 shares of company stock valued at $1,404,273. Corporate insiders own 1.70% of the company's stock.

Ichor Stock Performance

ICHR stock opened at $51.38 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 3.70. The stock has a market cap of $1.92 billion, a P/E ratio of -43.91 and a beta of 1.81. The firm has a 50 day simple moving average of $70.66 and a 200 day simple moving average of $67.90. Ichor Holdings, Ltd. has a 52 week low of $14.06 and a 52 week high of $113.58.

Ichor (NASDAQ:ICHR - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The technology company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.03. Ichor had a negative net margin of 3.97% and a positive return on equity of 0.47%. The firm had revenue of $294.78 million for the quarter, compared to analyst estimates of $300.17 million. During the same quarter in the prior year, the business earned $0.03 EPS. The company's revenue for the quarter was up 22.7% compared to the same quarter last year. Ichor has set its Q3 2026 guidance at 0.400-0.500 EPS. Research analysts anticipate that Ichor Holdings, Ltd. will post 1.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ICHR. Weiss Ratings reiterated a "sell (d-)" rating on shares of Ichor in a research report on Wednesday, June 24th. TD Cowen reduced their target price on Ichor from $115.00 to $100.00 and set a "buy" rating for the company in a report on Tuesday, August 4th. Wall Street Zen cut Ichor from a "buy" rating to a "hold" rating in a research report on Sunday. Zacks Research raised Ichor from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 19th. Finally, DA Davidson set a $85.00 price target on Ichor in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $87.00.

About Ichor

Ichor Holdings, Ltd. NASDAQ: ICHR designs, manufactures and services critical fluid-delivery systems and components used in semiconductor manufacturing equipment. Its products help control and deliver gases and chemicals used in processes such as wafer fabrication, including deposition, etching and cleaning.

The company's offerings include gas and chemical delivery modules, fluid-management systems, precision-machined components, weldments and related assemblies. Ichor also provides capabilities such as precision machining, welding, electropolishing, cleaning and component testing, allowing it to supply integrated subsystems to semiconductor capital-equipment manufacturers.

Founded in 1999 and headquartered in Fremont, California, Ichor serves a global customer base through engineering and manufacturing operations in North America, Europe and Asia.

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